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Bitcoin at High Leaves Crypto Stocks Mixed as Strategy, Galaxy Gain, Coinbase Falls
Updated Jul 11, 2025, 3:28 p.m. Published Jul 11, 2025, 9:48 a.m.
What to know:
- Bitcoin held above $118,000 after hitting a record, boosting U.S. equities in pre-market trading.
- Strategy rose more than 3% and Hive Digital climbed 7%.
- In Europe, The Blockchain Group (ALTBG) rose 12%.
Bitcoin's climb to a record left crypto stocks with mixed reactions as some companies closely tied to the industry advanced while others fell.
The largest cryptocurrency by market capitalization rose more than 4% on Thursday, closing in on $118,000. It was recently trading at $117,700, up 5.78% over 24 hours.
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Strategy (MSTR), the holder of the biggest BTC stash among publicly traded companies, rallied 3.2%, and Galaxy Digital (GLXY), which provides institutional services in crypto trading, added 4%. In Japan, Metplanet (3350), which is mimicking Strategy's strategy of buying bitcoin for its treasury, rose 2.9% and The Blockchain Group (ALTBG), which is doing the same, rose 9.3% in Paris.
Bitcoin miners also rallied, with MARA Holdings (MARA) adding 3.2% and Hive Digital (HIVE) 2.1%. Riot Platforms (RIOT) gained 1.5%. A higher bitcoin price means the BTC they produce is becomes valuable.
Even so, some miners declined. Cipher Mining (CIFR) fell 2.5% and Bit Digital (BTBT) dropped 1%.
They weren't alone. Crypto exchange Coinbase (COIN) lost1.6% and Circle Internet (CRCL), the issuer of the USDC stablecoin, slid 7%. It's worth noting that Circle, at $204.8 a share, is still trading at more than six times its IPO price of just $31 a month ago.
Cantor Equity Partners (CEP), which is in the process of becoming a listed bitcoin investment company called Twenty One Capital, is up 8.2% after finishing Thursday’s session 9% higher.
UPDATE (July 11, 15:26 UTC): Updates prices throughout, rewrites first paragraph appropriately.
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